The WGA Writers’ Strike has begun to affect many aspects of American entertainment – indeed, many of our favorite shows have already shown their filmed episodes, in effect wrapping up their seasons prematurely. But now the fate of the Oscars hangs in the balance.

The Golden Globes already shelved its show, broadcasting instead a list of winners rather than the usual red carpet extravaganza.

The Golden Globes are often considered a good forecaster of Oscar winners and this year, the two awards might also share the same fate. Indeed, if the issues — namely the rights to online profits — are not resolved by the end of January, there is talk of boycotting the Oscars as well. Oscar producer Gil Cates doesn’t believe this will happen, stating that he is looking forward to this year’s 80th anniversary of the award.

However, Cates’ confidence is not shared by all, and advertisers have gotten antsy at the thought of no Oscar night commercials. As the biggest, most important advertising night after the Superbowl, ads during the broadcast are said to cost as much as $1.6 million per 30 seconds. That’s a lot of ad revenue lost, which again, is exactly what the writers are going for.

Looks like the industry has some urgent issues to work on in the next few weeks.